By any other name

Posted: February 11, 2009 in abuse, bailout, capitalism, deceit, fraud, lies, thief

or, If you polish a turd, it’s still a lump of shit

The Plunderers of Prosperity still don’t get it. Word on the (Wall) street is the executives of the bailed-out banks are still plotting to use public money to give themselves massive bonuses, in spite of their abysmal performance last year. Remember, these are still the same morons, knuckleheads, jackasses, and puffed-up egomaniacs who fiddled while the country burned. Imagine the arrogance of paying yourself millions of dollars while 3.6 million of your countrymen are losing their homes, jobs and livelihoods.

Now imagine using public funds to do it. That’s right – they’re using YOUR MONEY to pay themselves undeserved bonuses. And telling you it’s appropriate and right that they do it.

Only don’t call them “bonuses”, says Mr. James Gorman, co-president of Morgan-Stanley:

“There will be a retention award. Please do not call it a bonus,” said James Gorman, co-president of Morgan Stanley. “It is not a bonus. It is an award. And it recognizes the importance of keeping our team in place as we go through this integration.”

Whatever.  Calling a tail a leg doesn’t make it a leg.  They claim these bonuses-that-aren’t-bonuses will be paid out of a different “pool” of money than the bailout funds are going in to. But that isn’t the point. The point is that after everything that’s happened, after all the jobs lost, the homes foreclosed on, the businesses forced to close their doors, the self-proclaimed masters of of the universe on Wall Street still think they deserve bonuses. They’re like addicts who swear that “this time they’ll quit.”  They don’t mean it, they’ll never get serious about this, and the only way to cure the disease is to remove the problem.  In other words, remove the people responsible for this debacle.  Honestly, Wall Street must have the lowest standards for professional performance in the world. It’s the only place you can work where you’ll be rewarded for fucking up.

Have they no shame? At long last, have they no shame?


Comments are closed.